Citigroup Sees Growth as Spanish Companies Tap Bond Markets
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Citigroup Inc. is counting on fees from managing bond sales and share offerings to drive revenue in Spain after selling dozens of branches in the country as part of a wider retreat from consumer banking.
The bank expects its revenue in Spain to increase five to 10 percent in 2015, Country Officer William Van Dyke said in an interview. Spain is one of the five biggest sources of income for New York-based Citigroup within Europe, the Middle East and Africa, according to a spokesman for the bank, which gets more of its revenue outside its home market than any other U.S. lender. It doesn’t provide a breakdown by country.